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Ultimately, the economic health of emerging-market countries will depend on the reinvention of urban public health.

Learning to Float

[2011-03-30]

It is time for China to seriously consider allowing the renminbi to float freely, while reserving the right to intervene when it must, and tighten the management of cross-border capital flows.

The suggestion is that a vindictive prime minister is playing politics in punishing the saintly Yunus, the man who pioneered microfinance, for having threatened to enter politics.

Europe’s choice now is clear: mobilize to help its neighbors open up their economies and societies, or start beefing up its coastguards and ordering patrol boats.

A healthy democracy cannot have half the population paying taxes and the other half collecting benefits.

Some syntheses and accommodations between the West and the rest will inevitably accompany the shift in power and wealth from the former to the latter. The only question is whether the process will be peaceful.

Japan's disasters will add to the global economy’s headwinds – be they the impact of the initial fall in consumption in the world’s third-largest economy, or disruptions to global supply chains (particularly in technology and autos).

The financial sector in the US and globally has become much more unstable in recent decades, and there is nothing in any of the reform efforts undertaken since the near-meltdown in 2008 that will make it safer.

A certain amount of labor-market rigidity may make economic sense for jobs that require firm-specific skills and training, alongside greater flexibility for jobs that require fewer skills.

Unless good-faith efforts at compromise are shown by all sides, Thailand will not retake its rightful place among the world’s up-and-coming democracies.

Given the stakes for the global economy, the Doha Round must be saved.

To put a serious accident in context, if 10 million people were exposed to radiation from a complete nuclear meltdown, about 100,000 would die from acute radiation sickness within six weeks.

If the Fed wants to restore incentives for risk takers and savers, it should offset the effects of staying “low for long” in bad times by increasing interest rates more rapidly than is strictly necessary as the economy recovers.

Simply put, in order to anchor inflation expectations effectively, inflation targets must be realistic.

Roughly 60 years ago, the discovery of nuclear power promised the ultimate solution to the world’s energy problems. Today, this promise remains unfulfilled.

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